Blockchain firm Quant is partnering with UST to promote the adoption of institutional digital assets. The collaboration will offer technical integration and tokenization services to central and commercial banks, as well as participants in capital markets.
According to the partners, they aim to assist financial institutions in harnessing the advantages of distributed ledger technologies. This includes the issuance of digital money and the tokenization of existing asset classes, enhancing settlement speed and providing access to new markets and clients.
Quant will supply the essential technology, while UST will support user interface design and integration through its sandbox environment. The partnership will primarily focus on the issuance of Central Bank Digital Currencies (CBDCs), commercial stablecoins, and digital securities on major distributed ledger networks.
Gilbert Verdian, CEO of Quant, stated, “The partnership will ensure that financial institutions can create new business opportunities and innovate with new DLT-embedded products and services to tokenise existing asset classes.”